The United Nations recently released a report that sent shockwaves around the world: we have a mere 12 years to take decisive action to prevent the most catastrophic consequences of climate change. The time to halt climate change has passed, but we still have a chance to avert the worst-case scenarios. And if we want to point fingers at those responsible, we need only look to the wealthiest 1%.
The Carbon Culprits: Corporate Giants and Billionaire Tycoons
Forget about the guilt-inducing calls for reducing personal carbon footprints. The real damage is done on an industrial scale. A staggering 70% of global emissions come from just 100 companies, making the average person’s impact almost negligible.
It’s the billionaires in the boardrooms of these corporations who are cranking up the global thermostat and putting 20% of the world’s population at risk.
Take the Koch brothers, for example. Their influence on public and political attitudes towards climate change has been nothing short of toxic. Koch Industries alone is responsible for releasing 24 million tons of carbon dioxide into the atmosphere each year. But the problem extends far beyond the Koch brothers.
Decades of Deception: Fossil Fuel Industry’s Disinformation Campaign
Many billionaires and the companies they control have long been aware of the reality of climate change. Yet, they’ve spent years denying or downplaying the issue. A prime example is Exxon Mobil, which allegedly knew about climate change back in 1977, long before it became a widely discussed topic.
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Instead of addressing the problem, they launched a decades-long misinformation campaign, working to undermine climate science and prevent international agreements on emissions reduction.
Even when some Republican lawmakers show a hint of willingness to address the issue, they are quickly shut down. Dark Money author Jane Mayer describes how Senator Lindsey Graham’s brief support for a cap-and-trade bill was met with a swift and aggressive negative PR campaign backed by fossil fuel billionaires.
Graham capitulated after just a few days.
The Climate Change Investment Industry: Profiting from Disaster
In recent years, fossil fuel companies have tried to paint themselves as allies of the general public in the fight against climate change. But the truth is that these companies know the only real solutions to the problem will hurt them far more than a token carbon tax. The free market does not incentivize preventing disasters, and companies are driven to expand and increase production, even at the cost of global catastrophe.
Nowhere is this more evident than in the growing climate change investment industry. Investors are looking for ways to profit from the impacts of climate change, from revamping food production to building hotels for those fleeing hurricane-ravaged areas. One top investment strategist even advises clients to invest in sea-wall construction, as sea-level rise is inevitable.
Time for Change: People vs. Fossil Fuel Industry’s Political Power
Today, three out of five Americans believe climate change affects their local community, and two-thirds of coastal residents share this sentiment. Even the Trump administration admits climate change is real, yet their response is one of dead-eyed acceptance. If popular support truly influenced public policy, we would have seen decisive action from the U.S. government long ago.
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The fossil fuel industry’s interests, however, are too deeply entrenched, protected by vast sums of money converted into lobbyists, industry-shilling politicians, and misinformation campaigns. To them, the rest of the world is merely kindling for their profit-making fires.
The time has come to put the blame squarely on the shoulders of the 1% and demand action from governments and corporations alike. If we are to avert the most devastating consequences of climate change, we must wrest control from those who would profit from our planet’s destruction.
The clock is ticking.
